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Rabobank North America Launches Energy Transition Team to Fuel Growth
News provided byRabobank
Nov 21, 2023, 11:15 AM ET
A series of New York-based hires includes bankers and research analysts dedicated to the energy transition and the sustainable growth of our clients' businesses.
NEW YORK, Nov. 21, 2023 /PRNewswire/ -- Rabobank, a premier global food and agribusiness bank with 125 years of experience and a leading financier of the energy transition, today announced key new hires on its renewable energy team to help fuel the bank's broader growth and sustainability strategy in North America.
Building on its 20-year track record in renewable energy, primarily focused on project finance, Rabobank is expanding the team to include new senior bankers and its first RaboResearch analysts dedicated to the energy transition movement. These recent personnel moves are part of a larger effort to expand the number of energy transition specialists across all of the bank's business lines. With 30 professionals now focused on the energy transition, Rabobank has one of the largest clean energy financing teams in North America.
"We are creating a center of excellence exclusively focused on financing the energy transition," said Rabobank's Greg Hutton, head of project finance and energy transition strategy in North America. "Accelerating the shift toward cleaner energy sources around the world is a critical component of our growth strategy."
Funding the development, construction and ownership of renewable energy assets has baked sustainability into our business and set the stage for the next phase of Rabobank's growth strategy—banking the entire renewable energy value chain.
"Armed with a deeper lineup of experienced bankers and analysts dedicated to clean energy, as well as robust efforts to expand our client base and offer a wider range of products, we look to become one of the most dominant players in the energy transition field in the next five years," Hutton said.
Among the new banking hires, Joshua Dale, managing director and head of energy transition coverage for North America, is a 20-year veteran in financial services with 14 years of experience in project finance. Jon Castaldo, managing director, energy transition coverage for North America, has more than 20 years of experience across corporate finance, structured credit, real assets, project finance and tax equity. These long-tenured bankers are focused on providing financing options and developing new products for companies in the renewable energy value chain, existing Rabobank clients and the broader sustainability sector.
In research, Nina Fahy, executive director and senior energy transition analyst for RaboResearch, brings 15 years of experience leading research and analytics teams focused on energy markets in North America. Amit Mathrani, energy transition specialist for RaboResearch, has eight years of experience in management consulting for large utility companies, where he created roadmaps for an affordable clean energy transition. Together, they will provide timely, cutting-edge research on the energy transition and share their deep sector knowledge with our clients. That includes assessing the impact of public policy and technology on the speed and scope of the transition.
The launch of our new energy transition team fortifies the rock-solid foundation Rabobank has built in the renewables sector in North America over the last two decades:
- Top 10 lender in renewable energy globally (Bloomberg New Energy Finance 2022)
- 27 gigawatts financed across wind, solar, battery storage, geothermal, energy efficiency, fuel cells and waste-to-energy sectors
- Perennial Top 10 ESG risk rating and currently No. 9 out of 348 diversified banks (Morningstar Sustainalytics)
Today, the global clean energy market is valued at $1.1 trillion and is expected to grow to an estimated $3.8 trillion by 2030. The expansion of our energy transition capabilities comes at a time when increased corporate and financial sector investment, disruptive technological innovation and legislative tailwinds are quickening the pace of adoption of a clean energy economy.
"We specialize in financing critical economic, environmental and societal transitions—from food to energy—that will help create a more sustainable future," said David Bassett, head of Rabobank Wholesale Banking North America. "And, in North America, our strategy is clear: To grow the companies that feed and power the world."
Rabobank Group is a global financial services leader providing wholesale and retail banking, leasing, and real estate services in more than 37 countries worldwide. Founded 125 years ago, Rabobank today is one of the world's largest banks with over $660 billion in assets. In the Americas, Rabobank Wholesale Banking North America is a premier corporate and investment bank to the food, agribusiness, commodities and energy industries, providing sector expertise, strategic counsel and tailored financial solutions to clients across the value chain. Visit www.RabobankWholesaleBankingNA.com.
Head of Marketing & Communications, Rabobank
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